Role of Banks in Economic Development (Focus Writing for Bank and BCS)
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Banking is a part and parcel of our economy and ploys very convincing contribution toward socio-economic development of our country. This sector is considered to be like the life blood of our economy as well. As one of the most important components of the financial system, it forms the core of the money market and plays very central role in mobilizing resources for producing investments in a country which turns contributes to economic development.
Role of Banking sector in economic development :
- The banks provided capital technical assistance and the facilities to business according their need which leads to development in trade.
- Agricultural development
- Industrial development
- Capital for motion
- Development of foreign trade
- Transfer for money
- More production
- Development of transport
- Safe custody
- Increase in saving
- Construction of House
- Assistance to government
- Increase in Employment
- Credit Creation
- Proper use of money
- Financial advice
- Increase in Investment
- Use of moderns technology
- Export Promotion cells
- Economic prosperity
Role of SME in economy:
SME means Small and Medium Enterprise (SME). Small enterprise are those which have employed less than 50 persons and have an investment of less than 250 million. SME is recognized as engine of economic growth and employment generation for sustainable industrialization in both developed and developing countries of the world.
Importance of SME in the economy of Bangladesh:
- 25% of total GDP
- 80% of industrial jobs, creation.
- 25% of labor forces in Bangladesh.
- 4 cores people create job opportunities.
- More there 2 thousand small and light industries build up in our country which industries are great account for out total GDP.
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